(i)Title Slide and Description of the jobBased on my research on different occupations, the occupation that I would like to be is Chief Executive Officer(CEO) in the future.
CEO is the highest-ranking executive at a company. CEO is the position of most senior officer, leader, administrator, executive that in charge of an organization. CEO is at the highest hierarchy level of the levels of management.
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CEO are located at the top management level in the levels of management. CEO normally is responsible in making decisions that impact the whole company. Since this job is acting as a leadership role in a company, it must be done with someone who can handle the job well and take the responsibilities of the job. CEO guide a range of organization including private and public sectors, non-profit organization and some government organizations. CEO reports to the board of directors or executive management team and in-charge maximize the value of asset, which include maximizing the revenues, share price, market share, etc. (ii) Skills and Duties needed for the jobAs a leader, CEO need to have strong communication skills.
Communication is the key in any settings, CEO need to learn how to communicate effectively to increase moral when necessary. CEO must motivate his/her team to complete the tasks such as understand what they need, motivate them to do the tasks well and inspired them. This will gain trust and build relationship between CEO and subordinates. CEO need to have conceptual skills.
With this skill, CEO should be able to develop alternative solutions and select the best alternative to solve the problem faced by the company. Besides, CEO need to have agile decision-making skills. Most of the CEO would not want to make mistakes, but when they do, they must understand the new solutions quickly and make wise decisions. In situations that are unexpected, CEO must be agile enough in their decisions-making skills to ensure that effective solutions are implemented before things spiral out of control. CEO need to have the power to inspire.
CEO are the public face of the company, they represent the ‘personality’ of the company. The way that they portray themselves can direct influence the company. CEO must be able to inspire the public at large but not only their team.
They must offer a fascinating vision of hope and success for the company during the time of crisis. CEO need to have the ability to assemble a good team. CEO need to be able to positive qualities and valuable skills to others, place the individuals in the role that they are capable with to have a chance to shine. It’s very important that a CEO are able to accurately evaluate the potential in others and assemble a great team that helps the company to succeed. As a leader, CEO must be ready to build a great company structure, provide strategic leadership to the company. CEO act as a main point of communication between Board of Directors and corporate operations.
CEO need to work with the board of directors and executive management team to establish long term-goals, strategies and plans of the company. CEO has the responsibilities to making, planning, achieving and integrating the strategic of the organization. CEO are responsible to ensure the organization’s leadership sustain the constant awareness of internal or external competitive of business, markets, new industry developments, opportunities for expansion, etc. CEO are responsible in making major corporate decisions for the whole company. CEO need to manage the overall operations and resources of a company. CEO duties may vary by industry or between in companies.
In small company, CEO often has much more hands-on-role in the company such as making business decisions, hiring staff. In large company, CEO typically deals with only the higher-level company strategy and direct its overall growth, as most of the task are assigned to other managers or various departments. (iii)Education/Experience for the job To be a CEO, the minimum education for an individual is Bachelor’s or Master’s Degree in business administration, liberal arts, law or public administration. Management professionals who wish to advance into a CEO position can improved their career studies by enrolling a Master of Business Administration(MBA) degree program. Competition is anxious in this high-level position, those candidates who have MBA will have more advantages in getting this job. These programs can be seek before working in an industry or having employed for some time.
Global information technology management, strategic project management, financial management policy and strategic cost management are including in the coursework. An individual must have experience in the company field in order to become CEO. CEO job is to provide vision and a course for the company to operate, which is difficult to do without experience or working knowledge of the risks and the opportunities that lie ahead for enterprise. It is rare to enter a company and straight be a CEO of a company, most people start at a lower level of position in a company and will work their way up until CEO. An individual must have senior-level management experience in order to become CEO. An individual could not run a multimillion or multibillion company without having previous experience managing his/her employees.
CEO can used voluntary certification to demonstrate knowledge and proficiency and advance their career. The Institute of Certified Professional Managers offers the designation of Certified Manager, which requires a minimum amount of education, experience, and training, as well as a passing exam score. A candidate must accumulate enough points based on the years of education and experience to be eligibility to sit for examination. In order to become a CEO, you need to earn a bachelor’s degree, then earn an MBA degree, gain enough experience, and consider voluntary certification.
(iv)Outlook and Salary earned in this professionIn this modern era, the number of people fighting for the position of CEO is increasing year by year. Based on my research, assuming 500 companies are hiring one CEO each for their company from 27 million of people, individual holds an MBA, he/she just have 40% which is 1 in 135,000 chances of getting the job of CEO in a company. If he/she graduated, the odds decrease to 33% which is 1 in 385,714.
Even with an engineering degree, the likelihood of being CEO is slightly lower than a colleague with an MBA at 14% which is 1 in 163,636. Out of three commonly held among the 500 CEO, those who holds the MBA have a better chance of getting the job. The likelihood of a person becoming CEO are astronomically slim. Even if the odds are slim, an individual still have chance to become a CEO.According to my research, the average salary of CEO of Malaysia is RM307,163. CEO with less than 5 years of experience can assume to earn an average total compensation of RM215,000. Average total compensation includes bonus, overtime pay, etc.
CEO with mid-career experience which include employees up to 5 to 10 years of experience can assume to earn an average total compensation of RM246,000. An experienced CEO with employees up to 10 to 20 years of experience can assume to earn an average total compensation of RM349,000. CEO with late-career experience which include employees with 20 years or greater of experience can assume to earn an average total compensation of RM508,000.
They could get bonus and commission from the job which is up to RM73,326 and RM20,000 of an average additional compensation. (v)Why you picked this career (not just for money)The reason that I choose to research the career of Chief Executive Officer(CEO) is because this job is different from the other occupations. CEO is the leader of big boss of a company.
They supervise and lead their team to make a better organization. Since I were young, I always want to be the top of the top. I am the one who like to be a leader rather than a follower. I like the feelings that having power to control the whole organization with hundreds, thousands or more employees with it. Being a CEO means leading something big, have the responsibility, driving the vision, success and getting more appreciation. It could make me to have a better life and future for me and my family. However, I could say myself has a great leadership skill.
This is because I could manage to lead my team to complete the tasks that are given through some activities that I had join. Being a CEO could help me to keep motivate myself to be the best. The knowledge gain by CEO is not only for the job purpose but also for daily life. For examples, ability in good decision making, leadership skills, communication skills, etc. Moreover, the feelings that admired from others of being a CEO is very wonderful and proud. Yes, I am still interested in pursuing this career. Although the chances of being a CEO is very small and is still have a long journey for me to go.
I will do my best to achieve those education requirements to increase my chance of getting the job. I felt that this job is very suitable for me because of my personality, skills and is one of my dream career. 1499 words (excluding title)